Ralph Lauren beats profit estimates on stable demand in Europe, China

Ralph Lauren (RL.N) beat first-quarter profit estimates on Wednesday as steady demand for its pricey denims and polo shirts in Europe and China offset slower sales in the US.

Resilient demand for designer fashion from wealthier consumers has benefited companies such as Canada Goose (GOOS.TO) and Miu Miu-owner Prada (1913.F), even as their European rivals hinted at a slowdown due to challenges in China and a pullback in spending by “aspirational” shoppers.

Cautious inventory...